The joint administrators to Purity Brewing Company Ltd and Pure Craft Bars Ltd (“Purity, Purecraft, the Companies”) have announced the sale of the businesses to entities owned by Breal Capital Ltd (“Breal Capital”), saving all 60 jobs across the Companies.
Purity Brewing Co. was established in 2005 and has established itself as one of the UK’s most respected independent breweries. It’s portfolio includes household names such as its Mad Goose IPA, Longhorn IPA and Lawless Lager, each produced at its farm-based brewing facility in the Warwickshire countryside. It also operates a busy taproom and kitchen in the heart of Birmingham.
Headquartered in London, Breal Capital is an equity, lending and advisory services business. Its previous investments include D&D London and the Yorkshire-based Black Sheep Brewery.
Mike Denny, Managing Director, Alvarez & Marsal, said: “Like many operators in the hospitality sector, Purity Brewing and Purecraft have endured tough market conditions. Most recently, the impact of significant cost inflation coupled with reduced discretionary spend has placed significant strain on the Companies. We’re pleased to have preserved the future of both businesses and the Purity brand by delivering the sale to Breal Capital, safeguarding all 60 local jobs.”
John Hunt, Managing Director at Purity Brewing Co. said: “We all know the brewing industry has had a turbulent time of late, and like many others, the business has certainly felt the pressure of rising costs. However, we’re incredibly pleased BREAL recognises the value and uniqueness of our offering and had the vision to invest in securing the future of the brewery.
“We’re very much looking forward to continuing to brew our much-loved, award-winning beers and delighting drinkers in the Midlands, London and beyond.”